International real estate firm Savills has been appointed as the sole agent by the receiver for the sale of G/F, Yiu Chung Building, No. 368, 368A, 368B Portland Street, Kowloon ("The Property"). The total gross area of the Property is approximately 2,772 square feet, with a saleable area of about 1,941 square feet. The tender closing date is scheduled for 18 February, 2025 (Tuesday).
The Property features a prominent 45-foot-wide facade and high ceilings. It is ideally located in the bustling area of Prince Edward, close to popular attractions such as the Flower Market and Pioneer Centre, ensuring a steady flow of foot traffic. Additionally, its proximity to the cross-border bus station and Metropark Hotel Mongkok makes it a gathering place for travellers, providing a stable customer base. The Property is just a 1-minute walk from Prince Edward MTR Station and is near major thoroughfares such as Prince Edward Road West, Nathan Road, and Lai Chi Kok Road, offering excellent transportation convenience.
Mr. Raymond Wan, Chief Senior Director, Investment at Savills Hong Kong said, “The Property currently has a valuation of approximately HKD 78 million. The current tenant is a popular hot pot restaurant with a stable customer base, and the lease is valid until 2027, with an average monthly rent of HKD 222,000. Additionally, there is a 3-year renewal option extending the lease to 2030, providing buyers with long-term stable rental income. This is an opportunity that investors should not miss.”